When Genesis first unveiled the GV60 Magma, my interest was immediately piqued. I already love the Hyundai Ioniq 5 N, so a shortened version of that platform with all manner of go-fast tech and a properly posh interior felt like taking things to the next level. However, one question’s gone unanswered until now: how much more expensive would it be than a Hyundai Ioniq 5 N?
As it turns out, not nearly as expensive as many were expecting, myself included. While speculative figures typically flew in the $80,000 to $85,000 zone, Genesis has surprised us all by selling the GV60 Magma in America for $71,495 including a $1,545 freight charge. That’s only $4,020 more than the Hyundai Ioniq 5 N was when it launched.
Now granted, Hyundai has recently lowered the price of the Ioniq 5 N to $61,500, so we’re still talking about a fairly serious premium for the GV60 Magma. However, in addition to the shorter wheelbase, unique suspension geometry, and all the calibration changes that make it a Genesis, the upgraded amenities you get make the $9,995 premium feel worth it.
If you’re into your music, one of the big creature comforts on the GV60 Magma will be the Bang & Olufsen sound system. It’s not of the same caliber as the Bowers & Wilkins system in a Volvo or the Naim system in a Bentley, but it’s a marked step up in clarity from the Bose system in the Ioniq 5 N. Then there’s the quality of materials inside. Stitched textiles all over the dashboard and door cards, a suede headliner, that lovely circular steering wheel with two-tone solid and perforated leather. Then there are the seats. The Ioniq 5 N’s seats are good, but the GV60 Magma’s 10-way memory front seats are more adjustable, one-touch presettable for households with multiple drivers, and still remarkably well-bolstered. In short, they’re a step up, and that’s important because the seat is something you’re constantly touching when you’re driving.
So, you get a properly lovely interior, but that’s not all. Dual electric motors delivering up to 641 horsepower ought to provide riotous acceleration, while the simulated 9,000 RPM V6 sounds interesting. Paired with Hyundai Motor Group’s simulated gearshifts, there should be proper engagement on hand even in a straight line. Early reports from industry colleagues speak well to the GV60 Magma’s chassis and steering tuning, so this should be one fun upscale EV.
As strange as it sounds, at a time where sticker prices frequently cause eyeballs to pop out of skulls, it seems that Genesis has priced the GV60 Magma right. It takes ingredients we already love, adds some meaningful luxury, and doesn’t charge an arm and a leg for it. For only $2,200 more than a Cadillac Optiq-V, you’re getting a lot more power, some promising drive modes, and an overall leg up in performance. Unless range is your utmost priority in a quick, posh EV crossover, the GV60 Magma sounds like a no-brainer.
Top graphic image: Thomas Hundal
I do like those seats.
Uhhh… the MSRP for the 2026 GV60 Performance AWD is $71,875. Is the Magma just replacing that trim and adding a lot more power? Because somehow it is 400 bucks cheaper. I am confused.
I like the competing headlines right now which imply $71k for an electric Hyundai crossover is a good deal but $64k for the Corolla GRMN is highway robbery.
I mean, you can get a base GRC for $40,000. An extra 24k for a rear seat delete and a tune is, in fact, quite silly. A base GV60 is $54,000. An extra 17k for twice the power and a whole bunch of performance stuff does feel a bit more reasonable, especially when the Ioniq 5 N it’s based on is $60,000ish. In that context I think this looks even better.
Well, it’s Genesis, who IMO are making the best cars on the market at the moment. They are at least the equals of Lexus, if not better, and are a much more wallet-friendly option to the Germans despite offering the same or superior products.
Also, despite being the ultimate performance option, that MSRP is somehow less than the current Performance AWD GV60 trim, which is not at all something I anticipated.
Maybe I’ll let some tech bro take the initial depreciation to the face then pick one of these up in a few years
That is what I did with the Polestar 2. Ioniq 5 N’s I have seen in the 40-45k range but I would wait until about 30-35k (if there are good CPO deals) but and it is a big BUT! I still dont trust Hyundai/Kia with their damn ICUU issues which were *fixed* but you still see tons of stuff online with 2025+ models still having the issue. My dad got a CPO Blazer SS a few months back weird thing is I might trust that more then Hyundai/Kia EV’s currently hah.
Matter of taste but I like the Ioniq 5’s styling better. Also this is one where you definitely want to get the good color.
Good color is a little subjective because I feel like the extrior styling is already so ridiculous it wouldn’t feel right without an obnoxious color like bright orange haha.
I almost liked the interior. Then I realized the whole dash is flat and ugly with a big dumb screen sticking up. And they lost me.